"Table orders, with Korean won stablecoin"...T-Order signs partnership with SUI

Domestic tablet order leader T-Order announced on the 25th that it has formed a partnership with the blockchain mainnet SUI to build a next-generation payment and marketing platform. Through this cooperation, small merchants can significantly reduce existing card and payment gateway (PG) fees, with expected annual cost savings of up to KRW 150 billion.

T-Order currently processes transactions of KRW 500 billion per month and over KRW 6 trillion per year, and its cumulative payment volume has already exceeded KRW 10 trillion. Through this agreement, T-Order's existing payment fee (about 2.5%) would be reduced to an ultra-low processing cost of about 13 won per transaction, dramatically lowering the burden on small merchants.

An infrastructure capable of distributing tablet order devices—about 300,000 units nationwide—in real time is also a strength. T-Order has established the technical basis to immediately connect store order/payment devices and servers nationwide and to apply a rewards system simultaneously. Based on this, it plans to leap forward with SUI into the country's largest payment and marketing platform.

SUI is a global blockchain platform optimized for large-scale payment environments, offering 297,000 transactions per second (TPS) and payment confirmation speeds averaging under 0.5 seconds. In particular, SUI's developer Mysten Labs was founded by core developers of Meta (formerly Facebook)'s Diem project, demonstrating technical expertise.

Adeniyi Abiodun, co-founder and Chief Product Officer (CPO) of Mysten Labs, said, "A Korean won stablecoin will be used in this cooperation," and explained, "SUI is already in discussions with Korean won stablecoin issuers, and the stablecoins they issue will become usable on T-Order." He added, "Through this, small merchants can enjoy cost savings of about $100 million, and it will become a representative example of a new payment model that effectively lowers fee rates to near zero."

A T-Order official said, "Since its founding, we have aimed for zero fees and built a small-merchant–centric platform," adding, "We will expand that vision one step further through the partnership with SUI." They added, "Based on nationwide infrastructure and real-time connection technology, we will open a new, small-merchant–friendly payment paradigm."